Growing Alabama Credit
The Growing Alabama Credit funds science and infrastructure projects at Alabama research and industrial sites through taxpayer-supported Economic Development Organizations.
Funder: Alabama Department of Commerce
Due Dates: Rolling
Funding Amounts: $29 million annual statewide cap (2026); tax credit equal to donor contribution; carryforward up to 5 years
Summary: Provides tax credits to Alabama taxpayers who contribute to Economic Development Organizations for approved projects that stimulate economic growth in Alabama.
Key Information: Only Economic Development Organizations (EDOs) may apply; donors receive credits, not direct grants.
Description
The Growing Alabama Credit is a state-administered tax credit program designed to drive economic development across Alabama. Administered by the Alabama Department of Commerce, the program enables Economic Development Organizations (EDOs) to apply for and receive funding for qualifying projects, using cash contributions from Alabama taxpayers. In exchange, donors receive a tax credit equal to their contribution, which can offset up to 50% of specific state tax liabilities and may be carried forward for up to five years. The program supports site work, infrastructure, capital improvements, and economic development activities at industrial sites, research parks, intermodal facilities, inland ports, and agricultural centers.
